Strategy, BitMine Added BTC and ETH Last Week While Each Carried About $9 Billion in Unrealized Losses

Strategy and BitMine added to their Bitcoin and Ether holdings last week even as both companies were sitting on roughly $9 billion in unrealized losses, according to an analysis by on-chain account AmberCN.

AmberCN wrote on X on June 22 that Strategy bought 520 BTC last week for about $34.87 million, implying an average purchase price of about $67,068.

Strategy now holds 847,363 BTC, AmberCN said. The position is valued at about $55.01 billion at current prices, against an average acquisition cost of $75,651, leaving an unrealized loss of about $9.093 billion, or 14.2%.

BitMine also added to its Ether position last week. AmberCN said the company bought 52,203 ETH for about $91.43 million, at an average purchase price of about $1,751.

BitMine's total Ether holdings stand at 5,672,956 ETH. The stash is estimated to be worth about $10.007 billion, with an average acquisition cost of $3,407, for an unrealized loss of about $9.32 billion, or 48.2%.

AmberCN said the two companies were carrying similar unrealized losses of roughly $9 billion each despite their latest purchases.

Markets are watching Strategy and BitMine as they continue to treat Bitcoin and Ether, respectively, as core reserve assets. But with BTC and ETH recently trading below their average purchase prices, valuation losses at crypto treasury companies are drawing greater attention.